Meta’s recent stock momentum stems primarily from the strong early adoption of its Muse personal AI assistant and related models, which topped app charts after launch and validated heavy AI infrastructure investments amid competitive pressures from other large language model developers. The September rally, fueled by the late-August lawsuit settlement and September’s Connect event showcasing new wearables, shopping integrations, and agentic features, has pushed shares near record highs and a $2 trillion valuation. Traders are watching the upcoming Q3 earnings release around late October and the planned Watermelon model update for signs of sustained revenue growth beyond advertising, though elevated capital expenditures and regulatory scrutiny remain key variables that could influence closing levels by month-end.